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Role of Financial Literacy in Driving Financial Inclusion and Economic Growth of Women in Odisha


Affiliations
1 Ph.D. Scholar, School of Commerce, Gangadhar Meher University, Sambalpur, Odisha-768004, India
2 Associate Professor, School of Management, Gangadhar Meher University, Sambalpur, Odisha-768004, India
 

The study examines the relationship between financial literacy, financial inclusion, and the economic growth of rural self-help group women in Odisha. Financial literacy has emerged as a vital component in promoting financial inclusion, enabling individuals to access and utilize financial services effectively. Specifically, focusing on rural SHG women, this research investigates how financial literacy influences their economic growth by empowering them with the knowledge and skills necessary for financial decision-making. The study explores the impact of financial inclusion, facilitated by financial literacy, on the economic well-being of these women. Through a comprehensive review of existing literature and empirical analysis i.e., EFA, CFA & SEM, this research aims to shed light on the significance of financial literacy in promoting economic empowerment and sustainable development among rural SHG women. The findings of this study can contribute to policy formulation and the design of targeted interventions aimed at enhancing financial literacy and fostering economic growth in rural communities.

Keywords

Financial Literacy, Financial Inclusion, Economic Growth, SHG.
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  • Role of Financial Literacy in Driving Financial Inclusion and Economic Growth of Women in Odisha

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Authors

Satyaranjan Garu
Ph.D. Scholar, School of Commerce, Gangadhar Meher University, Sambalpur, Odisha-768004, India
Srinibash Dash
Associate Professor, School of Management, Gangadhar Meher University, Sambalpur, Odisha-768004, India

Abstract


The study examines the relationship between financial literacy, financial inclusion, and the economic growth of rural self-help group women in Odisha. Financial literacy has emerged as a vital component in promoting financial inclusion, enabling individuals to access and utilize financial services effectively. Specifically, focusing on rural SHG women, this research investigates how financial literacy influences their economic growth by empowering them with the knowledge and skills necessary for financial decision-making. The study explores the impact of financial inclusion, facilitated by financial literacy, on the economic well-being of these women. Through a comprehensive review of existing literature and empirical analysis i.e., EFA, CFA & SEM, this research aims to shed light on the significance of financial literacy in promoting economic empowerment and sustainable development among rural SHG women. The findings of this study can contribute to policy formulation and the design of targeted interventions aimed at enhancing financial literacy and fostering economic growth in rural communities.

Keywords


Financial Literacy, Financial Inclusion, Economic Growth, SHG.

References





DOI: https://doi.org/10.23862/kiit-parikalpana%2F2023%2Fv19%2Fi2%2F223470